iHeartMedia Announces Post-Emergence Board of Directors

New Board’s Range of Highly Relevant Knowledge and Experience Will Be
Critical In Ensuring Company’s Future Success

November 14, 2018 09:00 AM Eastern Standard Time

NEW YORK & SAN ANTONIO--(BUSINESS WIRE)--iHeartMedia, the leading audio company in America which has a greater
reach in the U.S. than any other media outlet, announced today the
members selected to serve on its Board of Directors upon its emergence
from Chapter 11.

Subject to confirmation of the Company’s Plan of Reorganization, the
post-emergence Board will consist of the following Directors, all of
whom possess highly relevant knowledge and experience critical to
positioning the company for future success:

Bob Pittman, Chairman of the Board of Directors: Mr. Pittman is
the current CEO and Board Chairman of iHeartMedia. Mr. Pittman was
formerly COO of AOL Time Warner, Inc. after serving as President and
COO of America Online, Inc. Mr. Pittman also served as the CEO of MTV
Networks and was the Cofounder and programmer who led the team that
created MTV.

Jay Rasulo, Lead Independent Director: Mr. Rasulo was formerly
an executive at Walt Disney Company from 1986 through 2015, having
spent his last five years at Disney as the CFO and Senior Executive
Vice President. During his tenure at Walt Disney, among other roles,
he served as the Chairman of Walt Disney Parks & Resorts. Mr. Rasulo
is a graduate of Columbia University and received his MA & MBA from
the University of Chicago.

Gary Barber: Mr. Barber served as the Chairman and CEO of
Metro-Goldwyn-Mayer Inc. (MGM) from 2010 through March 2018. Prior to
his role at MGM, he was the Cofounder of Spyglass Entertainment, which
he founded in 1998. Mr. Barber received his undergraduate and post
graduate degrees from the University of Witwatersrand in South Africa.

Rich Bressler: Mr. Bressler is the current President, COO and
CFO of iHeartMedia. Before joining iHeart, Mr. Bressler was a Managing
Director at THL. Prior to joining THL, Mr. Bressler’s experience
included serving as Senior Executive Vice President and CFO of Viacom,
Inc., as Chairman and CEO of Time Warner Digital Media, and as
Executive Vice President and CFO of Time Warner Inc.

Brad Gerstner: Mr. Gerstner is the Founder and CEO of Altimeter
Capital, an internet, software, and travel focused investment firm
founded in 2008. Prior to launching Altimeter, Mr. Gerstner was the
Cofounder of three internet search start-ups. Mr. Gerstner received
his MBA from Harvard Business School.

Sean Mahoney: Mr. Mahoney is a private investor. He currently
serves as a director at two public companies, Aptiv plc and Arconic
Inc., and at post-bankruptcy Lehman Brothers Holdings Inc. His prior
board service includes Delphi Automotive plc and Formula One Holdings.
Mr. Mahoney was a partner at Goldman, Sachs & Co., where he headed the
Financial Sponsors Group, and Vice Chairman, Global Banking, at
Deutsche Bank Securities. Mr. Mahoney is a graduate of the University
of Chicago and Oxford University (which he attended on a Rhodes
Scholarship).

Kamakshi Sivaramakrishnan: Ms. Sivaramakrishnan is the founder
and CEO of Drawbridge, a company focused on designing quantitative
algorithms for numerous areas, including computational advertising.
Prior to founding Drawbridge, Ms. Sivaramakrishnan was a Senior
Research Scientist at AdMob which was acquired by Google in 2010. Ms.
Sivaramakrishnan has her Ph.D. from Stanford University.

“We are excited about both the depth and range of our new Board
members,” said Pittman. “We know our ability to draw on the experience
of this unique combination of leaders in their respective fields will
give us an unparalleled competitive advantage as we build our next level
of growth.”

iHeartMedia’s current Board of Directors will remain in place until the
company emerges from Chapter 11, at which time the new Board will assume
its responsibilities.

About iHeartMedia

iHeartMedia is the number one audio company in the United States,
reaching nine out of 10 Americans every month – and with its quarter of
a billion monthly listeners, has a greater reach than any other media
company in the U.S. The company’s leadership position in audio extends
across multiple platforms including 850 live broadcast stations;
streaming music, radio and on demand via its iHeartRadio digital service
available across more than 250 platforms and 2,000 devices including
smart speakers, digital auto dashes, tablets, wearables, smartphones,
virtual assistants, TVs and gaming consoles; through its influencers;
social; branded iconic live music events; and podcasts as the #1
commercial podcast publisher globally. iHeartMedia also leads the audio
industry in analytics and attribution technology for its marketing
partners, using data from its massive consumer base. iHeartMedia is a
division of iHeartMedia, Inc. (PINK:IHRTQ). Visit iHeartMedia.com for
more company information.